E-Commerce: Publishers need to pay attention
One of the most baffling trends we see in clients looking for monetization options is having either no eCommerce on their sites or a very fragmented eCommerce experience and poor execution. For example, most publishers sell subscriptions on their website. But few directly integrate it into their sites, instead relying on third-party subdomains which reduce the search visibility of their products. The integration into the website is often some cumbersome process that doesn't rely on APIs and doesn't implement single-sign-on.
And if they offer other products, for example classifieds, event tickets, obituaries, they're asking the customer to sign into a separate system. If they have customer self-service, it's yet another system. Then they have to spend time and money to integrate all of these, maintain separate workflows, separate processing providers, etc. If you consider the implications of this for the customer, it's a horrific experience. Imagine you want to buy something from an online store but need a different account for every product. Consolidating the experience for customers is vital, not only for their sake, but for yours: having a hub and spoke arrangement where the site is the primary touchpoint and controls the sign-on process is more reliable, more secure, it's a better user experience, and when it comes to customer data, having all of the context: i.e. this person is a subscriber who buys classified ads, is hugely important. It's more cost effective, it makes it easier to future-proof your sites, and it's more logical for end users.
The primary strength of a publisher is it's brand and topical authority. In this they have a huge advantage over many other businesses, but they are rarely able to leverage it effectively because they do not consider the architectural or strategic implications of their overall eCommerce presence, instead opting to simply have a presence in a given vertical.
Below is a summary of the advantages of utilizing eCommerce, and having it integrated directly into your websites.
1. Diversified Revenue Streams
- Direct Sales: By selling products directly through their platforms, publishers can create a new revenue stream. This could include merchandise, digital products, or even subscription services1.
- Affiliate Marketing: Integrating e-commerce allows publishers to promote products relevant to their content and earn commissions on sales2.
2. Enhanced User Experience
- Seamless Shopping: E-commerce integration ensures a smooth and cohesive shopping experience for users. This reduces friction and cart abandonment rates, leading to higher conversion rates1.
- Personalized Recommendations: Leveraging user data, publishers can offer personalized product recommendations, enhancing user satisfaction and engagement2.
3. Improved Data Management
- Centralized Data: Integrating e-commerce platforms with existing systems like CRM and inventory management ensures that all data is centralized and up-to-date. This reduces errors and improves efficiency3.
- Data-Driven Decisions: Access to comprehensive data allows publishers to make informed decisions about product offerings, marketing strategies, and customer engagement2.
4. Increased Customer Loyalty
- Consistent Branding: Offering products directly through their own platforms helps publishers maintain consistent branding and build stronger relationships with their audience3.
- Exclusive Offers: Publishers can create exclusive offers and discounts for their readers, fostering a sense of community and loyalty2.
5. Operational Efficiency
- Automated Processes: E-commerce integration automates many processes, such as order processing, inventory updates, and customer data management. This reduces the need for manual intervention and minimizes errors1.
- Scalability: Integrated systems can easily scale as the business grows, allowing publishers to expand their product offerings and reach new markets without significant additional investment3.
6. Competitive Advantage
- Staying Relevant: In a competitive digital market, offering e-commerce options can set publishers apart from those who rely solely on traditional revenue models2.
- Adapting to Trends: E-commerce integration allows publishers to quickly adapt to changing market trends and consumer behaviors, ensuring they remain relevant and competitive3.
